KENNETT SQUARE, Pa., Oct. 30, 2024 (GLOBE NEWSWIRE) — LTC ACO, the first Accountable Care Organization (ACO) in the U.S. dedicated solely to long-term care facility residents, today announced it received a positive reconciliation and settlement under the Medicare Shared Savings Program (MSSP) for the 2023 performance year. As LTC ACO celebrates a decade in the MSSP, it anticipates significant growth, including expanding its services to assisted living facilities and continuing to lead in enhancing care for high-need populations.
“We are extremely proud to announce that LTC ACO and our participating practices have once again achieved shared savings under the CMS Medicare Shared Savings Program, generating one of the highest savings rates on a per beneficiary basis in the country,” said Jason Feuerman, president and CEO of LTC ACO. “Our positive results are a testament to the commitment of our participating providers, who work tirelessly to enhance care for the Medicare population living in long-term care facilities. We are grateful for the trust they place in us as their value-based care partner.”
In 2023, LTC ACO attributed more than 16,000 Medicare fee-for-service beneficiaries to its MSSP ACO. The organization achieved total savings to CMS of nearly $60 million, resulting in earned shared savings of $44.1 million to LTC ACO. Since 2018, LTC ACO has saved Medicare more than $132 million demonstrating its commitment to cost-effective, high-quality care for long-term care facility residents.
“As we enter our 10th year of MSSP participation, our mission remains focused on enabling the success of our partners in value-based care by providing innovative and effective insights and interventions,” said Feuerman. “Together with our partners, we will continue transforming healthcare quality for long-stay facility residents through industry-leading, value-based care solutions.”
Leveraging its extensive experience, LTC ACO supports the value-based care success of providers serving patients in long-stay facilities. As an early adopter of CMS’s new quality reporting framework, LTC ACO continues to set higher standards in long-term care, pioneering advancements in health outcomes and reducing costs for long-term care residents. By leveraging innovative approaches, such as artificial intelligence for predictive analytics, LTC ACO enhances clinical analysis and reporting, helping our practices focus on their patients at greatest risk for avoidable hospitalizations to improve outcomes for its unique population of beneficiaries.
LTC ACO focuses on a high need, underserved subset of the Medicare population. This includes the frail elderly, as well as individuals living with Alzheimer’s disease or dementia, depression, amputations, developmental or physical disabilities, renal failure and those with multiple chronic diseases and complications who reside in long-stay facilities. Over 85% of LTC ACO’s population is “dually” eligible, participating in Medicare and Medicaid. As the most experienced MSSP ACO serving practices treating these beneficiaries today, LTC ACO creates reliable shared savings revenue opportunities with no downside risk for its participating practices.
To learn more about how LTC ACO helps providers and facilities achieve financial success and improve clinical impact in Medicare’s value-based care programs, visit http://www.ltcaco.com.
About LTC ACO
LTC ACO is the first Accountable Care Organization (ACO) in the United States dedicated to long-term care facility residents. LTC ACO began participating in the Medicare Shared Savings Program (MSSP) in 2016 for Medicare beneficiaries who reside in long-stay facilities. Visit http://www.ltcaco.com to explore opportunities for participation.
Media Contact:
Nerida Brennan
610-925-1001
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